Loan Purpose Setup
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Loan purposes can be a valuable tool for analyzing the types of clients your business attracts. This insight can help you develop targeted marketing and media campaigns to drive growth while also retaining your existing clients.
The Loan Purpose Setup module enables users to define the selectable loan purpose options available for every loan a client takes out. Key settings include:
Authorized limits: Determines which branches and categories qualify for the loan purpose.
Purpose Type: Select a purpose type; All purpose types are in alignment with the .
To begin, either select an existing purpose from the table or click the "+" icon to create a loan purpose.
Next, select a purpose type from the dropdown below and assign the authorized categories and applicable branches.
Disclosure requirements (Form 39)
The periodic form 39 submission to the NCR includes a classification of loans into the various purposes or reasons why the clients need the loan.
